Abstract
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Product coverage
Consumer foodservice by chained/independent; Consumer foodservice by type;
Consumer foodservice by type and chained/independent
Executive summary
Number of outlets more than doubles over the review period
The number of consumer foodservice outlets more than doubled in 2001-2006. The
strongest growth in the number of outlets was seen in 100% home
deliver/takeaway, full-service restaurants and pizza consumer foodservice. The
increase in outlets also led to an overall increase in the number of
transactions, which more than doubled over the same period. The boom in the
number of outlets constructed in 2001-2006 was indicative of Colombia' s strong
overall economic performance over the review period. While growth slowed
somewhat in 2006, the overall constant value growth of consumer foodservice
over the review period was very positive.
Chains increase gourmet coffee product offerings
Local and international companies are expected to increase gourmet coffee
sales in 2007, as local consumers enjoy tasting new ways of preparing their
top national product. Chains such as Juan Valdez and OMA started to increase
coffee options at the end of the review period, expanding beyond the
traditional black coffee and cappuccino to ice latte and ice cream, coffee
mouse, macchiato with Chantilly, just to name a few. Other chains like
McDonald' s and Archie' s, which were not previously known for their coffee
selection, also joined the trend by offering a wide and interesting portfolio
of coffee-based products along with relaxing, welcoming spaces that allow
customers to enjoy their entire coffee experience. Local chains are also
working together with local coffee producers to give Colombians top quality
coffee, which was previously only selected for exports.
Colombian chains expand
Colombia boasts top international consumer foodservice chains such as
McDonald' s, Dunkin' Donuts and Pizza Hut, but its home-grown chains are the
leaders in terms of value sales. Inversiones El Corral Ltda' s El Corral
fast-food hamburger chain, Crepes & Waffles SA' s Crepes & Waffles restaurant
and Frisby SA' s Frisby chicken outlets were the top three chained consumer
foodservice restaurants in terms of value sales in Colombia in 2006. Each of
these chains has over 100 outlets throughout Colombia and their menus that are
tailored to Colombians' taste, giving them an edge on multinational
foodservice chains operating in Colombia.
Independent locations vastly outnumber chains
Independent foodservice outlets led overall consumer food service in number of
outlets in 2006. Whilst several popular chains can be found throughout the
major metropolitan areas of Colombia, their numbers are still dwarfed by their
independent counterparts. Consumers often prefer lunch in independent
restaurants as many offer much lower prices and traditional Colombian plates
which large numbers of low-income Colombians desire over standardised fast
food products. In most cases, chains cannot compete with prices at independent
restaurants as many cut costs by not following sanitary norms required by the
regulatory institutions of restaurants.
Growth still strong despite losing some steam over forecast period
While the rapid growth that consumer foodservice experienced in 2001-2006 is
not predicted be matched in 2006-2011, the growth in constant value terms
should still be strong. With Colombia' s economic and political situation
stabilising, consumes are expected to benefit with continued increases in
disposable income. Eating out at a restaurant may no longer be reserved for
special occasions for an increasing number of Colombians, as the nation' s
wealth expands. In addition, convenience is anticipated to become even more
important and outlets that offer home delivery and take-out options will
likely continue to gain favour.
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